MaxiTRANS Industries Ltd., one of Australia's oldest and largest semi-trailer manufacturers, is selling its Trailer Solutions Business (Trailers) and certain property to Australian Trailer Solutions Group Pty. Ltd. The purpose of the deal is to rebrand and focus on the dedicated commercial parts distribution business as MaxiPARTS, according to the July 22 company statement. The total value of the deal is $48.3 million AUD ($35.6 USD).
The Trailers business will continue to operate under the MaxiTRANS name. Completion of the sale is subject to certain conditions, including shareholder approval, and is expected to occur by the end of August. While the change separates MaxiPARTS and MaxiTRANS, both businesses have formally agreed to continue working together into the future.
“What we are announcing today creates two simplified and more focused businesses,” said MaxiTRANS Managing Director and CEO Dean Jenkins. “In recent years, the financial performance of Trailers has been volatile. Having explored a range of alternatives to address this issue, we have concluded that these steps provide the best outcome for our shareholders, customers and people, while also creating a brighter future for the Trailer business under ATSG’s ownership.”
For customers, the company does not foresee any immediate change in day-to-day operations or customer sales and support, the notice states. Customer contact points for sales, delivery, service, and parts remain unchanged and are available for enquiry and ongoing customer support and communication.
“For 75 years, we have been building MaxiTRANS into one of the transport industry’s leading companies,” Jenkins said. MaxiTRANS and MaxiPARTS will continue to build on this heritage, with our ongoing commitment to our customers, employees, suppliers, and the transport industry to deliver safer, more efficient, and reliable transport solutions. We will continue to provide ongoing customer support wherever and whenever it is needed."